MB changes chartered capital increase plan to 5.3tr dong

VNStockNews.com - Under a new plan approved by Military Commercial Joint Stock Bank (MB)'s extraordinary shareholders' meeting on November 5, with 90 million shares being issued in forthcoming time, the bank's existing shareholders will be able to buy these shares at the price of equalling to the face value.

According to Le Van Be, MB's general director, the bank's employees will hold 4 percent stake, existing shareholders hold 5 percent and the remaining worth some 600 billion dong will be sold to the strategic shareholders at the selling price of not lower than 70 percent of the market price.

Be added, MB is preparing to launch payment card in the forthcoming time under the cooperation between MB and Viettel. As expected, this plan will bring a big profit.

In addition, out of one trillion dong of convertible bonds that were issued in 2007, the bank has converted 420 billion dong of convertible bonds into shares on June 20. As planned, the remaining would be converted on November 10.

MB also will increase its investment to 250 billion dong into Thang Long Securities Joint Stock Co instead of 100 billion in previous plan.